Emily Mavrakis | The Gainesville Sun
Peyton Moseley said it’s been a long time coming for his medical marijuana company to open up a Gainesville dispensary.
“We have a lot of Gators on our team and we always wanted to be in Gainesville,” said Moseley, vice president of product development at Jacksonville-based VidaCann. “To be honest, we had trouble finding a spot for a while because it was a busy area.”
With the upcoming opening of VidaCann at 3607 SW Archer Road, sandwiched between a Wendy’s and Papa John’s Pizza, Gainesville will have its tenth medical marijuana dispensary.
VidaCann plans to open as soon as it gets word that it’s passed inspections.
Even with a serious economic downturn projected due to COVID-19, the industry is expanding into new territory throughout the state, both in terms of location and product.
It’s a different environment than the one the industry faced at the end of 2019, when the cannabis industry was facing a “cash crunch,” with investors shying away from the business as its prospects waned.
Greg Kaufman, a partner at a Washington, D.C. law firm who specializes in commodities litigation and the co-author of a book on cannabis law in the United States, said when cannabis first became legalized for medical and recreational purposes in several states, many big investors were keen to back newcomers to the industry.
“It was a bit of a gold rush in that companies seemed to have endless financing and they were trying to get licenses in as many states as possible,” Kaufman said.
However, by 2019, significant taxes and the cost of cultivation, processing, transportation and dispensing had begun to add up. Marijuana and products containing it can’t cross state lines, so with every new state license, companies had to set up new cultivation and manufacturing